Show WHO'S s NEWS THIS WEEK By LEMUEL F. F PARTON NEW YORK YORK The The muezzin from fron his tower cries that he cant can't exactly exactly ex say that everything Is all right but it might be worse and it probably proba bly wi will l be betHa bet H Ha His Restrained ter That would Optimism Hit Hits a be Col Cot Leonard LeonardA A Cheerful Note P. P Ayres o of Cleveland allaying allaying al al- al laying fears of a bear market In hi his monthly business survey a periodic voice as authoritative as any noontide noon noon- noontide tide bulletin from the minarets o of Cairo Colonel Ayres vice president 01 of the Cleveland Trust company wasa was wasa wasI a school teacher leacher for many years and Is the author of a book called The Measurement of Spelling Ability AbilIty Abil Ity one of about a dozen of his books on educational subjects lie He has written a similar number 01 of books on business and finance and In his entire range rance from spelling to selling he has never overlooked detail and he is no offhand prophet cier prophecy tier prophecy being his main line as contrasted to lo that of mere market market mar mar- ket analysis lie has logged log eight major depressions depressions de dos and eight cycles of in inflation ins In- Dation and deflation and he be gets the feel of ot the thing In about the same way a good cook gets the feel of a cook book lIe He was one of the few financial experts who saw the 1929 blizzard bUzzard coming comIne corning com corn ing Ine and said so BO On October 3 1928 he be wrote The golden age of American business has bas cometo come cometo to an end rod Nobody was paying much attention atten lion tion to the muezzin then He kept kepi kepton on repeating that the condition of ol finance was thoroughly unhygienic ic but the wind wasn't right and the words didn't carry down to the market place below A native of ot Conn Colonel Ayres was educated at Boston university later garlanded garland garland- ed with a chaplet of ot honorary degrees from other colleges He lIe taught school at Rochester N. N Y and at Puerto Rico and In Inthe inthe inthe the latter engagement turned his spare time to statistical research research re re- re- re search with such success that he became statistician for the theA theA A A. A E E. F. F In war days days hence hence his title Previous to taking over the banking post In Cleveland he was a director of education forthe for forthe forthe the Russell Cussell Sage foundation and he had rounded out his career as asan asan asan an educator nicely before startIng starting start- start Ing log another In la finance In between between between be be- tween the two work zones he be wed wedged red a book The War With Germany written la In 1919 IN THE TIlE depth of the depression a group of Wall Street financiers hired an economist to draft for them thema a proof shockproof and slump-proof slump plan for r the invest invest- Sino Sano Business Bue meat ment of ot their Sagacity Seems Seem surplus funds Highly to assure them m security In la their there old age After diligent research their adviser found that no such plan was possible but suggested a asan u as uan an alternative that the they put their money in the keeping of some sagacious sagacious sagacious sa sa- Chinese financier This writer recalled then that several several several sev sev- eral of the shrewdest business men In this country Including Edward Bruce of the fine arts division of the treasury department and the late William R. R Murchison had learned about the care and nurture of mone money from the Chinese sages lages of the abacus and now comes Richard ichard RichardC C C. Patterson Jr al sled led in business in China retires as assistant secretary of l commerce to take a private post Back Dack from China In 1927 with halt half of his allotted span of years yearn still ahead of him and a sizable fortune already In hand band he wished to put In the rest of his life lUe being socially useful lie He was commissioner of corrections of New York city until 1932 1933 given Iven a big baud hand for his effectiveness on the job Just a year ago he became a sort of liaison officer between the department department de de- de- de of commerce and the nation nations nation's nations nation's na na- na- na tion's tion business In this capacity he urged a friendly together get in an economic clinic as he thinks part of our trouble is due to a lack of basic facts and sound understanding understand understand- ing of economic and business forces He De was a Nebraska farm boy routed through the University of ot Nebraska and the Columbia School of ot Mines lInes to a successful professional and business career ca ea- reer ricer first fint as II a mining engineer with the J J. J G G. G White F. F Ini Ing company as a consultant for forthe forthe the and later Uter In mining and business ventures in China lIe He served on the Mexican border bor der and In the World war a major maJor major ma ma- jor In the latter Utter annexing several sew sev eral foreign decorations Consolidated Feature Service |